Section 600.5321 - Distribution of balance. - Michigan Statutes

REVISED JUDICATURE ACT OF 1961 (EXCERPT)
Act 236 of 1961

600.5321 Distribution of balance.

Sec. 5321.

The court shall further direct the clerk to pay the remainder of any moneys in his possession, over and above the exemptions of the petitioner, to the creditors, to be divided equally among all creditors listed, but the clerk shall not be obliged to make such distribution oftener than once in 60 days and then only if there is at least $100.00 to be distributed, but when making a distribution to creditors may pay claims or unpaid balances of $5.00 or less in full and divide the balance of the money equally among the balance of the creditors. Any money not called for by any creditor, or checks returned undelivered and remaining in the clerk's office for 6 months after the proceedings are dismissed, may be paid by the clerk to the petitioner.

History: 1961, Act 236, Eff. Jan. 1, 1963